Hospital stocks sink as Republicans continue healthcare reform push

Major for-profit hospital operators saw their share prices tumble Tuesday as House Republicans and the White House restarted discussions on legislation to repeal and replace the ACA.

Most of the major for-profit hospital operators saw their share prices soar after Republicans scrapped the American Health Care Act last week. On Tuesday, House Republicans said they would continue efforts to draft legislation to repeal and replace the ACA, which caused hospital stocks to tank.

By mid-afternoon Tuesday, shares of Franklin, Tenn.-based Community Health Systems dropped 7.6 percent and shares of Dallas-based Tenet Healthcare fell 4.8 percent. CHS and Tenet closed the day down 4 percent and 1 percent, respectively, according to CNBC.

Shares of Nashville, Tenn.-based HCA Holdings reached a multiyear year high on Monday, and closed Tuesday down about 1 percent.